Proof of Settlement Funds (POF) in Canadian Immigration refers to the any kind of financial documentation that can prove that the applicant has enough money to support themselves and their family in Canada. Depending on the type of Immigration pathway you choose the proof of fund requirement can vary- It can be different for Permanent Residency applications , PNPs, Spousal Sponsorships, Study Permits, or for Super Visas. Applicant must verify the Proof of funds requirement through the IRCC website when preparing the application as the proof of funds requirements are updated on a regular basis.

Who Needs to Show Proof of Funds?

• Express Entry (Federal Skilled Worker & Federal Skilled Trades): For these PR program the proof of funds required are:

Number of Family Members	Funds Required (in Canadian dollars)
1	$14,690
2	$18,288
3	$22,483
4	$27,297
5	$30,690
6	$34,917
7	$38,875
If more than 7 people, for each additional family member	$3,958

·       For Express Entry -CEC program- If the applicant has a valid job offer in Canada and is     authorised to work in Canada, he doesn’t have to show proof of funds. However, their employment records, paystubs, and tax documents will be verified by IRCC for meeting the eligibility requirement.

• Provincial Nominee Program (PNP): Some provinces require proof of funds, while others may waive it if the applicant has a job offer and has records to prove the same. Depending on if the applicant claimed the PNP points for Express Entry( under FSW/FTS) where they may have to show proof of funds as above.
• Study Permit: Students must show they can pay for tuition, living expenses, medical and other expenses. If they have accompanying family members they must prove they have sufficient funds for all family members.
• Family Sponsorship: The sponsor may need to demonstrate financial capability, depending on the application type, no of dependants, their employment  etc.
• Super Visa- Depends on the family size and dependants of the host and the host has to meet the LICO requirement.

Number of family members	Funds you need (in Canadian dollars)
1	$29,380
2	$36,576
3	$44,966
4	$54,594
5	$61,920
6	$69,834
7	$77,750
If more than 7 people, for each additional family member, add	$7,916

What Qualifies as Proof of Funds?

• Official bank statements from the past 6 months.
• Letter from the financial institution on their letterhead stating available funds, applicant account details, and average balance until the time of application.
• Fixed deposits, mutual funds, or other liquid investments that can easily be cashed whenever required.
• Proof of cashable investments (e.g., Guaranteed Investment Certificates - GICs).
• Gift deeds from family members or close friends which are authorised legally and does not require the applicant to return the funds are acceptable.

What is NOT Accepted?

• Property or real estate equity.
• Borrowed money or loans (unless secured against own assets).
• Cryptocurrencies (not considered a stable financial resource).

Some Key points to Consider:

• Funds must be readily available and transferable to Canada.
• Proof should be recent and consistent with income and financial history.
• Joint accounts are acceptable only if the applicant has full access to the funds.
• Spouse’s funds can be used if accompanied by proof of access.

Would you like guidance on specific proof of funds documents for your application?

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